China’s policy makers may be “less aggressive” in introducing further tightening measures as Europe’s sovereign-debt problem spreads and risk to the economy grows, UBS AG’s wealth management unit said.
Most Hong Kong stocks rose, lifting the benchmark index to the highest level in a month, after the city’s home prices climbed and European banks’ stress test results fueled optimism for a global economic recovery.
Emerging-market stocks rose for an eighth day as a Spanish bond sale eased concern European governments will struggle to fund budget deficits and investors speculated the global economic expansion will continue.
Asian stocks swung between gains and losses after reports showed consumer spending in the U.S. increased less than economists’ estimates and sales of previously owned homes fell. Newcrest Mining Ltd. gained as gold prices rose.
China’s property stocks , the worst- performing group this year, are unlikely to rebound until the third quarter when measures to curb the record growth in prices take effect, according to Lion Fund Management Co.’s Xia Junjie.